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World cotton prospects
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Permanent Link: http://ufdc.ufl.edu/AA00013009/00001
 Material Information
Title: World cotton prospects
Physical Description: v. : ; 27 cm.
Language: English
Creator: United States -- Bureau of Agricultural Economics. -- Division of Statistical and Historical Research
Publisher: Bureau of Agricultural Economics, Division of Statistical and Historical Research.
Place of Publication: Washington
Frequency: monthly
regular
 Subjects
Subjects / Keywords: Cotton trade -- Statistics -- Periodicals   ( lcsh )
Genre: federal government publication   ( marcgt )
statistics   ( marcgt )
periodical   ( marcgt )
 Notes
Dates or Sequential Designation: - C-133 (Oct. 1936).
General Note: Reproduced from typewritten copy.
General Note: Description based on: C-59 (June 1930).
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: aleph - 026660256
oclc - 30588060
Classification: lcc - HD9070.4 .Un311
System ID: AA00013009:00004
 Related Items
Succeeded by: Cotton situation
Related Items: Statistics on cotton and related data

Full Text





UNITED STAT::S DZrAT. _'TT OF AGRICULTURE
Bureau o A, ricultur,.l .Econoiaics
: s. -in, ton


0-62 WORLD COTTC: PROSPECTS Sete:.:ber '0, 1'0






Cotton prices both in Americes nd abroad declined during Auu;;cL t arid

September. Of the im-ortant growths EgyptirAc S.':ellc.ridis fell raos- aind

Indian cotton fell the least. American middling 7/8 inch cotton declined

about 2- cents per pouni from the first p}Frt of A: 'at to the last of

September when prices in tne central markets were the lowest ,.ince Septem-

ber 1915 and the farm prices in tie United Statcs the lowest since July

1921. T.e stronger markett for Indian cotton in coirr)xison with .American

changed thle price relationship which was effective in causing foreign

mills to shift froli American to Indian cotton in the past year. VEyptian

Uopers .'ave also show more strength than Americpa cotton recently.

Th-e world visible supply of all cotton on September 26 was about 1.8

million bales larger tthan at t:.e same time a ,'ear ago. World visible

supply of .Acrican cotton was about 1.6 million bales more than a year ago

and constituted about 70.1 per cent of the total, whereas a yecr ago

American cotton nmount-d to about 60.5 per cent of th. total. Exports of

American cotton from August 1 to Soetcmber 27 were about 200,000 bales

above the correspo;.ding period last year.

A sura-mary of vo.ilable figures on world -tocks of all kinds of cotton

at the end of July totals 11.2 million bale.s as compared with 9.3 million











C-62 -2-


bales last year. A similar s-umr'-.ry of -.vailr.ble figures on world

stocks of American cotton totals 6.4 million b".les for July 31 this

ye-.r co,,iared with 4.6 million last year.

T'.e recession i;i. eie cotton textile ind-istry which is more or

less :.enerc.l throuGhout t-'e world continued t:'rou.i-; August --id. into

Septe.: ber. Conditions in the Orient were reported so:me'i--.t im-jroved

darin. the I.st of Set(;r-.ber which soi:few---t itv,>roved the outlook

for Great Britain. Su.v-ller stocks of ya.rn rnd cloth whicn were re-

ported for sonre countries is anot-her f.-vorr.ble factor. Textile ac-

tivity in the United States during August as imec.sured by consumption

of rc.w cotton was the lowest since J-.Ay 1924. Production of standardr

cotton cloth on the other hand wa.s 5 per cent higher during Aa.'u.st

thcn during July, and soles, ship.lents and unfilled orders also showed

sone im;irovement.





C-G2


Prices



Aiericxcn riddlin; 7/8 inch cotton in the ton markets aver.-ced 12.38
cents per pnund on Ag.u'ist 7 but from this point it declined to 10.10 cents
on August 13. For the two follo'.::in-- weeks there w:.s sovcwhat of an up-
ward trend until un Secoteaibor 5 the )rice in tl.ese markets 2.vr:,.ed 10.70
cents per pound. Since tnen, however, there has been a stulead decline
until on1 Sc tember 27 t:hL ten .arkr.ts .ver:.fe 1 9.58 cents per pound which
was the lowest daily average since Soptembor 9, 1915. The avoraec .Irice
in the ten markets during September was 10.14 cents per pound compared
with 10.63 cents for Au ust, 12,21 cents for Jul;', 18.01 for September
1929, and is tue lowest monthly average since September 1915. The avcri'cg
f~rxm price or. September 15 was 9.9 cents, 1.5 ce-.ts below Au-ust 15, 8.3
cents below September 15, 1929, and is the lov:est since July 1921.

In tnhL Liverpool :-.arket, as :,:'7r be seen from the accoomp-anyin, Figuro,
E,3ption S-ae-llaridis s.iowed the grertest decline of any of the i;b:)ortcnt
growths during the period from August 8 to SepteMber 12 while Indian
(Oomrar Io. 1) sr.owcd the smallest decline. 'mIen converted from pence to
cents the net decline during this period for the different growths are
as follows: Egyptian Sakellcridis, fully good fair, 4.15; Egypticn
Uppers, good, 1.88; American mniddlin,,-, 2.52; Indica, Oomra 'To. 1, fully
good, 0.51. T.:is smaller decline in Indian and Egyptian Uppers a.s re-
sulted in a price relationship between the e two growths and American the
most favorable to consuription of American cotton which has c;:isted for the
past nine months (note dotted lines on accompanying Figure). Since the
acconpa-nying Figure was prepared SacIellaridis advanced to 21.29 cents per
pound on Septerrber 19 but declined to 20.38 cents on SeptoeTber 26. U)pprs
advanced to 18.46 cents on Septe-.ber 19 cra. declined to 17.85 cents on
September 2G, Amcrican r;Liddlin- and Indian Oomra No. 1 on the othor hand
were both lower each week with American middling at 11.94 cents on Septon-
ber 26 and Indian Oomra LNo. 1 at 7.19 cents on Septer.'bur 26. Thc price
relationships in regard to Americn continued to improve during these last
two weeks. This relative strengthening in the price of Indi-a cotton is
probably due to the fact that the visible supply of Indian cotton is some
200,000 bales below last year while the supply of Amorican is considerably
above last year.

Futures

Prices of future -ontracts for American cotton r.nvcd bout as did
the prices of spot cotton. Fro.n A-.:st 8 to Seo'eLber 25 the not decline
in tnh icvw York inm.rlct wvs 1.70 cents in case of July contracts to 2.09
cents per pound in case of toh old October contract. On the i',w Orleans
market the Groc.test decline was in the October contract of 1.95 cents
per pound and the smallest decline in the May contract of 1.81 cents per
pound. In Liverpool tohe net decline was 1.72 ce.ts in case of July
contracts to 2.07 cents per pound in case of October contracts.


-3,







0-62 4 -

Stocks and movements

World visible supply

The world visible su?)pl of .ll cottons on September 26, 1920 totaled
about 6.2 million 'jb.les co...ppred with 4.4 r.'illon t-~les at tLe same date
last year. Of this total 4.3 million bales or 70.1 ;cr cent wrs American
this year compared with 2.7 or CO.5 pe. cent last yecr. United States
port stocks, United States interior stocks, Continontal stocks of American,
and American afloat for Europe we-e-all above last year while Great Britain
stocks of American rene slightly blow' a year ago. The most significant
change in the visible supl:y of f'orein cottons is the increase in stocks
in Alexandria, Eggypt a-.d the decrease in stocks in Bombay, IndiL. Stocks in
Alexandria constitute 7.8 per cent of the total visible supply t.-s year -com-
pared with 4.0 per cent of the total las-t year. Stocks in Bombay constitute
9.6 per cent of the total this year compared with 17.5 p..r cent last year.

Table 1.- World visible supl., of cotton: Ar.erican nrd other
growths on September 23, 1929 Lid 1920 1/

American _

S 1929 .1930
Location of stocks : :Prcent: :Percent-
:Total : ... of: Total : age of
: : total : : total
: Running : : Running
Sbalos :Purcent: bales : Percent

Great Britain .......................: 264,000: 6.0 ;254,000: 4.1
Continental ........................ .: 253,000: 6.5 343,000: 5.5
Afloat for Europe ....................: 366,000: 8.3 : 440, 00: 7.1
United States: : :
Port stocks ........................:1,164,18: 26.6 :2,490,742: 40.2
Interior stocks....................: 575,923: 13.1 : 818,124: 13.2
Exports today, (Friday) .............: 375: .0 : -

Total American .................. :2,651,81: 60.5 :4,345,866: 70.1

East Indian, F-r.zilian, utc.

Great Britein .........................: 453,C00: 10.5 ': 7,CO0: 7.9
Continental ..........................: 92,000: .1 11,CO0: 2.0
Indian afloat for Euroce .............: 16,000: 2.6 : 74,000: 1.2
Egypt, Brazil, etc. afloat ...........: 121,00: 2.8 : 66,000: 1.4
Alezandria, 2gypt ....................: 177,000: 4.0 : 483,000: 7.8
Bombay, India ........................: 76 ,000: 17.5 53 5 ,000: 9.6

Total East Indian, Brazilian, otc.:1,729,000: F9.5 :1,844,000: 29.9

Total visible sugly .............:4,80 E1: 1CO.0 :6 19,866: 100.0
j/ Compiled fror: the Commenrcial cnd FinLncial Chronicle.





t : * .:. : *















SPOT COTTON: COMPARATIVE PRICES AT LIVERPOOL, 1930


AUG. SEPT.
luRIAU OF AGrIMTl L ICuf


3 10 17 24 31 7 14 21 28 7 14 21 268 II 1S 25 2 9 16 23 30 6 13 20 27 4 II 18 25
JAN. FEB. MAR. APR. MAY JUNE JULY
Ul &S DEPARTINT OF AGRICULTURE









C-62


Exports of American cotton

Exports of American cotton during August 1930 amounted to 3C6,036
running bales compared with 17C,435 bilees during July and 226,018 1al.es
during August, 1929 according to the Burer'u of the Censcus. Exports from
August 29 to September 27 according to the Mew York Cotton Exchange reports
amounted to 752,0CO running; b.le tlis 'ea.r compared with 624,000 bales
during this period last ye.Lr. The total exports from August 1 to Septem-
ber 27 according to the Iow York Exchange amounted to 1,.029,000 bales
this year compared with 820,OC0 bales during the corresponding period last
year. :

Stocks of cotton on. Jul, 31

*In order to obtain a mo-e adequate view of t'is season's supply
situation, information on world cotton stocks at the end of July have be n
summarized together with uo_~prahle figures for earlier years. The stocks
of all kinds of cotton at the end of July, 1-30 as obtained in the ac-
companying Table amounted to 11.2 million running boles compared with 9.3
million bales last year, 11.7 million bales in 1927, and 13.9 million bales
in 1921. Mill stocks of all kinds were the same as in 1926 nd smaller
than in any other year since then. The Inrger total is due mostly to the
increase in stocks in the Unit3d States which we.e the Inrgest since 1921.
Of the total stocks American constituted 6.4 million balos cormared with 4,6
million bales in 1929, 5.3 million in 1928, 7.8 million in 192r, and 9.6
million bales in 1921. Stocks of Indian on the other hand, while the
smallest since 1927 were only 70,000 bales below last year. Stocks of
Egyptian cotton which amounted to 804,000 running bales were the largest
in the past ten years.







C-62


- 6 -


Table 2.- Cotton, al- kinds: StocLs at specified locations at the
end of July


Location : 1921 : 1922: 1923: 1024: 1925: 196: 1927 :1928: 1929: 1930
:1,000 :1,OCO:1,000:1,000:1,COO:,000: 1,000:1,000:1,000: 1,000
run- : run-: run-: rAn-: run-: run-: run- : rln-: rn-: run-
: ning : ning: ning: ning: ning: ning: ning :ning : nzin: ning
:bales :bales:b-lAs:bales:balus: ales:bales :bales:bales: bales


:ill stocks _/
Port stocks 2
Great Britain .
Continent .....:
Bombay ........:
Alexandria ..**
United States- :
Aflont 2/
For Grot-t
Britain ......:
F'or Continent .
Bombay Harbor .:
Stocks of 'ilori-:
can in United
St-tes -/
In public stor-:
af e ........... :
Elsewhere .....:
Port ctocLs rnd :
afloat 5/
Japan and China:


4,597:5,162:4,055:3,574:4,267:4,498: 5,417:4,787:4,863: 4,498


1,171
560
1,1.89

265


130
348
2




3,723
1,700


250


851: 432:
486: 186:
967: 502:

.,23: 136:


126: 75:
219: 209:
S15: 2




:1,488: 945:
125: 280:


: 300: 250:


456:
295:
654:

51:


1L2:
195:
3




641:
160:


200:


639:
318:
598:

55:


142:
222:
9:


943:
345:
525:

205:


135:
227:
4:


*187:1,893:
230: 510:


1,297: 763
842: 677:
621:1,143:

304: 205:


142: 109:
328: 23:
2: 1

: :


1,803:1,156:
535: 335:
: :


300: 2EO: 375: 325:


839:
490:
993:

215:


119:
290:
12:




923:
275:


821
552
958

30.


92
253
8




2,804
470


Total .....:13,935:9,962:7,072:6,351:7,367:9,535:11,656:9,824:9,269:11,242

1/ International Federation of .L.: te: CJtton Spoiners and ;.canuf-cturers'
Association and 3ure-u of the Census.
/ T.he Liverpool Cotto, -.ssociation Weekly Circ.lar.
3/ Egypti-n cotton iij loe a.'li. .L;..i tLe @uitu.& Jtates.
4 Bur-c-u of the Census; does not include Lill stocks.
SFrom Cozz~rcial ,ad Financial Chronicle.

W'.ile the total stocks of Amoricel cotto.. tlis year were teo largest sinte
1927, it may be seen fro- the acco.-pLnyino ta'.le t1a-t ..ill stocks wore the low-
est since 1926 and t..,t mill stocks outside of t-e United Statss wore the low-
est since 1924. Tl.e inc.jcased total is d-e to t.e inc.-ase in the stocks in
public stor-ge in tLh U.-itod States which were the largest since 1921. Port
stocks of Americn.. i:. Groat BritLin r'en'; the smallest since 1924 cand port stocks
on the continent we'e the lowest since 1926.


a


250: 300


* :







- 7 -


Table 3 Cotton, American: Stocks at specified locations at the end of J-iiy



Location 1921 1922 1923 1924 1925 1926 1927 1929 :199 :1930

:1,000: 1,000:l,O0: 1,000:1,000:1,000:,, 'J':1,000:1, : 1,03': C0,O
: run-: run-: run-: run-: run-: run-: run-: run-: run-: run-
: ning: ning: ning: ning: ning: ning: ning: ning: ning: ning
:b lses:bals:bales:bales:bales:bales:bales:baes: es:ales

Mill stocks: : : : : :
In United States/:l1,111:1,218:1,100: 638: 787:1,011:1,325: 935: 932:1,048
Outside United : : : : : :
States 2/....... :1,144:1,251: 716: 689:1,046: 958:1,731:1,17?:1,197: 937
Total mill : : : : :
stocks ....... :2,255:2,469:1,816:1,327:1,83:1,969:3,056:2,112:2,129:1,985


Stocks in public
storage in
United States 1/ :3,723:
Stocks elsewhere
in United Stctes 1/:1,7.:0:
'Port stocks: 3/
Great Britain ... : 750:
Continent ....... : 98:
Afloat: 3/
For Great Britain : 90:
For Continent ... : 307:
Port stocks and
afloat:
Japan and C.-ina 4/: 250:


1,488:

125:

505:
442;

53:
120:


300
300:


945:

280:

161:
112:

9:
108:


250:


641:

160:

200:
194:

28:
116:


200:


487;

230:

381:
249:

19:
124:


300:


1,893:

510:

557:
272:

22:
134:


250:


803:,56:
: :
1,803:1,156:


535:

954:
790:

26:
234:


375:


335:

486:
616:

26:
200:


325:


923:2,804

275: 470

419: 294
411: 407

17: 15
140: 102


350: 300


Total ........... 9,573:5,502:3,681:2,866:3,623:5,607:7,773:5,256:4,564:6,377


1/ Bureau of the Census.
2/ International Federation of !aster Cotton Spinners' and la-ufacturers'
Association.
3/ The Liverpool Cotton Association Veckly Circular.
4/ From Co:-.:ercial aid Financial Chronicle.






0-62 8 -

Total stocks of Indian cotton on July 31, 1930 were 70,000 bales
below 1929 and were the lowest since 1927. Mill stocks and stocks in
Bombcy were likewise the lowest since 1927. Port stocks in Great Britain
and on the Continent, however, were the largest since 1924 indicating that
the .European buyers had turned more to this lower priced cotton. In
view of the reduced stocks at Bombay the question arises whether uncount-
ed stocks in India were also reduced. The fact that world consuim ition
of -idian cotton increased materially last season without .a corresponding
increase being reported in Indian.produqtion indicates that interior
stocks in 'India must have been lowered. The rapid falling off in Bombay
stocks recently and the comparative strength in prices of Indian cotton
further substantiate this belief. Obviously if stocks of .Indian cotton
are ,being depleted, mills will be forced to return to nAerican cotton.


Table 4. Cotton, Indian: Stocks .t'specified locations at the end of July



Location '1921 :1922 :1923 :1924 :1925 :1926 : 1927:'1928 :1929 :1930
: : : : : :


Mill stocks l/

Port stocks:
Great Britain
Continent 2/.,
Bombay 3/....

Afloat: 2/
For Great Bri"
For Cdntinent
Bombay harbor
Total ....


1,000:1,000;.1,000:1,000:1,000:1,0:,000;1,O00:1,000:1,000
: ran-: run-: run-: run- run-: run-: run-: run-: run-: run-
: ning: ning: ning: ning: ning: ning: ning' ning: ning: ning
:bales :bales: bales: bale s:'bales: bales :bales: bales: bales: bales

::1,760:1,805:1,623:1,592:1,599:1,589::1,515:1,728:1,761:1,667

:.. : ": :. :
B* ,. ." : ..* :
2/.. : 58: 23: 62: 96: 35: 19: 13:: 54: 57: 77
' ... : 34:. 16: 51: 77: 49: 34:. 21:. 38: 34: .58
...... :1,189:. 967: 502: 654: 598:. 525: 621:1,143: 993: 958
:. :: :5' 5 :5 S
... '
tain : 4: 13: 28: 12: 22: 12: 17: 14: 18: 20
... 26: 81: 88: '60: 55: 50:' 58: 91: ''05:' 122
... 2: 15: 2:' 3: 9: 4: 2: 1: 12: 8
..... 3,073:2,920:2,356:2,494:2,367:2,233:2,247:3,069:2,980:2,910
: : S :


1/. International Federation of Master Cotton Spinners' and i.anufactirers'
Association.
2/ The Liverpool Cotton Association Weekly Circular.
3/ Coinercial and Financial Chronicle.


W U.V






C-62


Total stocks of r cji.i n c:ottor )n Jrilj :', i 30 :'ero l:,- cr t'hn at y.-1
time '.urin3 the iast 10 years. iill stoc':s aQc'l stscC:s in ..le;:l:J.r.La .oreo li.-:o-
wise larger than at anyr ti.io tl:ini~ t.:is .erioDC. Po-t ctoc!ks in G.-ct D..-i;.i:i,
however, \'er'e thle s:iaclect sirce 19,26. T.'- l ,ro port stci:s in .l ::ri. ar
due in ea:rt t.o t ie 1- E: tti.-C..: cr ) f '2.-1 0 w:iich .iJs tho i;-'. -"ost cro, on
record aic- in ~ai't to t:.o Jurc.iasus io' cot'Aon by the E,;-.ttian GOver-:-ient, a
large amount of vwich the-' are still ihol3.i, and in part to the Cecrajse in mill
cons0u.)ttion lact season.

.3aolo -. Cotton, Ej,;tian:; S3oc"'s at s:ccified 1oc:tio:is
at the oerd of J.. yL


1921: 1922: 1923: 192-1 i925: 1'J26: 1 12;: 1920 1929: 1930

:1, ,OO:1,00: ,0:, :1,00:0:1,0, iO.':1000:10 0:10:, C00:l, C'00:1, C00
: roua-: rm-: run-: run-: run-: run-: run-: 2n-: r1un-: run-
nin;: nin-: ni i: nini: ni:j: nin, : nin.: :in;: ninj: nin;
:bales:bales:bales:ales:balo:ules: blejbaile :baes:bales
.* SsSS esSbSlS
* S C C S S -_ S S


;(ill stocks 1./.........: 181 : 211


:ort stocks 2/:
Great Dritain ......: 75
Continent ..........: 1 :
SAlex:andria ).....
United States).....:

.Afloat /: :
G reat Britain .......: 1- :
Continent *.....-....: 10


Total .......... 556


97 :
11 :
223


220 :


89 :
1.0
3..36


188 :


41 :
9
51
.Sl


191 a


38 :
5
I.r


202 :


41 :
8 :
205


1-1-
9


10 :


58 :
9
304


13 :
10 :


565 : 472 : 304 : 288 : 468 : 604 :


170 : 22 :


S: 59 :
7: 6:

205 :.15


5: 8: 1
8 :13 : 4
-146 : 529 : 804


I/ International Fedoration of Master Cotton S..i; ers'
tion.
z/ The Liveri-ool Cotton Association ';ee-lj. Circ..-.ar.


and LLaLufacturers' Associa-


Stoc*:s of other cotton or- Ju.l: 31 of this -ear v-cre about 4.,000 bales
less than a ;e- r earlier brat with the e::cetior of 126 vre'-ee larger than a ry
other year c...,ri.:1 the iast 10 :-ears. I.lill st.cl:s on t-ie other -in'.: were the
smallest since 1924. The s..:all :.!ill stocks v\ore offset by largo _,ort stoc:;s in
Great Britain and on the Continent -"hic: .'ro larger? than at a.r'n time dc.-riii
the lC'-year _.er:iod '121-1930.


Location


237


43
13
476
30


:*







Table 6. Cotton, sundries: Stocks at specified locations
at the e-.ye of July

Location 1921 1922: 19237 1924 1925* 1926, 1927 1928U 1929- 1950

:1,000:1,000:1,000:1,000:1,0001:,000:l,0CO:1,000:1,000:1,000
: r.n-: run-: run-: r:-:- run-: ran-: -an-: run-: run-: run-
: nin;: nin: ning: --ing: ning: ning: ning: ninth: ning: ning
:bales:bales:bales:bales:bales:bales:bales:bales:bales:bales

Mill stocks i/...... 401 677 : 396 : 467 : 654 : 739: 626:- 777: 745: 609
Port stocks : : :
Great Britain ....: 268 : 226 : 120 : 119 : 185 : 326: 272: 172: 304: 407
Continent ........: 17 : 17 : 13 : 15 : 15 : 31: 22: 16: 39: 54
Afloat 2/: : .: : : :
For aGreat Britain : 22 : 46 : 30 : 75 : 97 : 96: 86: 64: 76: 56
Continent ...: 5 : 9 : 4 : 11 : 38 : 35: 26: 24: 32: 25
Total ........: 733 : 975 : 563 : 687 : 989 :1,227:1,032:1,053:1,196:1,151
I/ Inter-ational Federation of IMaster Cotton S-;innrers' and Manufacturers' Associ-
ation. 2/ The Liveirool Cotton --ssociation Weekly Circular.

Table 7. Cotton, by kinds: Sunalar of world stocks
at the end of July

Kind 1921 1922 1923 1924 1925 1925 1927 '1928 1929 1930

:1,00: 1,000: 1,000: 1,000 : 100: 1,00 1,000: 1,000: 1,000 1,000
..n- run- run- ran- : run- : ru- n- run-: un- r:- run-
ning in nii : niS nin nin nin nin lL ning nin
:bales: bales: bales: bales: balss: bales: bales: bales: bales: bales

ai.erican..: 9,573: 5,502: 3,681: 2,866: 3,623: 5,607: 7,773: 5,256: 4,564: 6,377
Indian....: '5,073: 2,920: 2,356: 2,494: 2,337: 2,233: 2,247: 3,069: 2,980: 2,910
Egt ian..: 556: 565: 472: 304: 286: 468: 604: 446: 529: 804
Sundries..: 733: 975: 563: 657: 989: 1,227: 1,052: 1,053: 1,196: 1,151
Total...:l1,930: 9,962: 6,651: 6,351: 7,257: 9,555:11,656: 9,824: 9,259:11.242

In connection with the stocks of ,i..erican cotton9 the following sura-ary of
the quality of carryover of cotton in the United States en July 31, 1930 which was
released Se tc:.iber 19, 1930, in co.rparison -rith the quality of carryover July 31,
1909 will be of iiyortance. From this Table may be seeit that Al-erican Upland con-
stituted 93.1 per cent of the total carryover in the United States this year, as
compared r-itbh 91.8 per cent last year. Of t:is total, 43.9 per cent of this year'
carryover was below 15/16 inch in staple against 58.0 per cent last year. This
year only 79.2 -er cent of the carryover was tenderable as comp-ared with 82.3
per cent tenderable in 1929. The tenLerable cotton over 1-1/32" in staple length
amounted to only 17.4 per cent this year as col-.rared with 25.4 per cent last year.
The decrease in per cent of tenderable cotton this year as compared with last year
is due to the shortness of staple since the per cent of untendorable due to grade
is exactly the sa:e this year as last.


0-62


- 10 -4





C-2 11-

Table 8. Grade, stapleleength and tenderajbility of cotton carried
over in the United States J::-ly 1, 192 1 1930


July 31, 1929


S Salos =Per cent:
* C P


July 31., 19.0

B. les :Per cent
*


Total carryover (as r sorted by the :
Bureau of the Census) ............
Total .:nerican upland ...........:
Total -.;.ericar_-E. tian .........:
Total foreign grown, .............:
Grades (i;aerican upland):
Iiiddling and better, uohite ......:
Strict lo: and low middling .....
Below low uiidiling .......*......
SpJotted and yellow tinged .......:
Light yellow stained, yellow
stained, gray, blue stained ...:
Sta)le (-.or'ican u.'land):
Under 7/8 ...........e............:
7/8 an.i 29/32 ...................:
13/16 and 31/32 ................:
1 and 1-1/32 ........... ......:
1-1/16 and 1-3/32 ...............:
1-1/8 and longer .............:
Tenderability on section 5 features :
contracts (.u.ierican u-land):
Total tenderable ...... s........:
Tenderable 7/8" to 1-1/';2" inc.:
Tenderable over 1-1/32" .......:
Total untenderable e.............:
Ur.tenderable in grade .........:
Untenderable in staple ........:
Untenderable il- both grade and :
staple ..... .................:


2,313,000 :
2,123,700 :
7,200 :
182,100 :

1,197,900 :
4 80,400 :
125,000 :
237,600 :

2,800 :

155,200 :
3.1,500 :
397,500 :
395,200 :
221,?00 :
.0S,0,00 :


1,74-8,400 :
1,2.1,600 :
496,800 :
375,200 :
220,100 :
74,300 :

80,600


100.0 :
91.8 :
0. :
7.9 :

36.5 :
22.6 :
6.0 :
11.2 :

0.1 :

7.3 :
30.7 :
18.7 :
18.6 :
10.4 :
1-.3 :


82.3 :
58.9 :
23.4 :
17.7 :
10.4 :
5.5 :

5.8


4-,5:0,600 :
4-, J1J,600 :
S,100 :
208,900 :

2,314,300 :
839,800 :
218,200 :
717,700 :

14,900 :

446,800 :
1,4-.5, 300
825,4-00 :
783,000 :
389,300 :
3423,500



3,416,300 :
2,336,600
749,700 :
897,300 :
450,500 :
268,00 :

178,400 :


Insight, port recei ts, mill tal:ings etc.


Accor-ing to Hew Orleans Cotton E::cl-ar :e t:-e cotton into sil,ht m:ove..:ent
during August 1930 amounted to about 865,000 bales co._-a red with 820,000 in 1929.
Port receipts during Au.gust 1930 aiountold to 676,000 bales co:i ared with 432,000
in 1929. Cotton moving overland d7'.ing ;.ug.ist this year uhich caounteC. to about
33,000 bales or about 40,000 bales less than C.-aring the sw.le imonthi last -ear.
American mill ta.:inc according to the lev, Orleans Exchange report, .ounmted to
only 242,00C bales dr-ing .-ust this .-ear cor.: ..ro2 -.-ith 461,000 bales in .i-ust
1929. Total stocks at ports in interior to:mns at the end of ;L.gust this ;-ear
were 2,589,000 bales which vas t he l-rg:est on record for the ;.Month of auL-.st,
these records being available bac:- as fr .s 1912. Th'se large insight arnd -jort
receipts were due to the fact that the crc,. this year is cons-i'er.bbly earlier
than last year, and the ye.r before. T'ie lecor:l stocks at tle interior to'',us
is of course due to the decline in comiostic consun:t.ion and e-: oirts uri-inrg the
previous season which resulted in a large car'yover.


Iteia


l0C..
95.1
0.2
4.7

3.0
20.2
3.1
16.7






13.1
1 C .4



9.0
9.9


79.2
31.8
17.4
20.8
10.4


4.2
4.2


--





.? 12 .
C-62 "1

Textile situation


The recession in the cotton textile industry is an accompaniment of the
world wide businessr recession. Franc-o, the only country on the Continent with
the p6ssiblo exception of Hungary that.has been able to maintain a high rate
of activity was under the influence of-labor strikes during the latter part
of July and most of August which resulted in lower mill activity and reduced
.production. Economic and political conditions.in the Orient continue unsatis-
factory though the outlook is reported considerably brighter during September.
Takitgs of yarns and,picce goods from Great Britain were low during August but
,some improvement is expected to be shown in the -report for September. Brazil
and Argentina which are large takers of goods from Great Britain and the
United States are in a depressed economic condition. In some countries stocks
of both yarn and cloth arc reportedd as-decreasing which is a favorable factor.

United States

Cotton te::tile activity in the United States during August as measured
by consumption of -raw cotton, declined -still further and is now at the lowest
level since July 1i24, and is the lowest .for the month .of August since prior
to 1913, the first year for which consumption fiLuros for the month of
August arc available. Consumption during.August amounted to 352,000 running
bales, 27,000 bales below July and 206,000 .bales below August last year. The
consumption during August 1y24 amounted ta 3.57,Q0u bales and in July 1924
to 347,000 bales.

Production of standard cotton during August, however, was 5 per cent
above July according to a r. port of the Association of. Cotton Textile Merchants
of Now York. Sale.s, shipments and unfilled orders wore also above July. The
ratio of sales to production was 107.6 *pkr cent and of shipments to production
was 105.7 which re-suited in a dccreisc dur.ing. August of 2.8 per cent in stocks.
Production during August amounted to 21-8.6 million yards being at the rate of
43.8 million yards pcr week. Thic compares with a weekly rate of 61.5 million
yards during August of last year or a decrease of 2: per cent. During 1928
and 1929 the only tw:o years: for which comparable. data are available, the
average weekly production of cotton cloth during August ov. r July increased
9 per cent and 5 per cent respectively. In spite of restricted production
stocks are still large.

Great Britain

Conditions in Great Britain's cotton textile industry continued unsatis-
factory during August and early September. Market prospects were reported
slightly better, however, during the last part of August with more encouraging
news from India. This resulted in buyers displaying increased interest in
yarn and cloth prices and in slightly improved turnover. The third wook in
August lanchester reported yarn and cloth inquiry larger, better news. from
India, and more sales to Citina with the general prospects brighter. A cable
a week later, however, indicated that trade was losing ground again. A cable
from Liverpool on September 26 reported come increase in inquiries from India
for manufactured goods.






S.- 1 1' -


Exports of cotton pic.co ,guodo. during Aiu;;gut -.hich amounted to 160.0
million cquiru. yards, ./hiit u.3 million siqli-rL .rdC .Lbovt the lo' fituru
for June (ti:c lowuv.t r.or.th -ince Ju.io l1v21), w.ts 2'.4 million zqu ire yirdz or
15 per cent below July ind 1''..3 trillion ,,'uarL .arac or 46 rcr c.-nt bclov:
August laCt ,yc:-Lr. exports of cotto.i y.Lrn duri:nk At~-ut .ere lu.2 million
pounds, 200,000 pounds or 2 p)( r cuent belo\; Jul;:, Lnd .1 trillion pounds or
33 per cent bilo.a Aug-ust 1929, but 500,000 pounds or 5 pi.' cLnt above June
v'hich '., L t!Ie lo,'r.t since CJu!, 1923. Both cotton yarn ind cotton piece
goods c:-ports for tlic; L ison 19:.'2-30 ".uro the la .czt for any sx.son since
the 1920-21 sc.ison.


Contin..nt -1 Europe 1/

The tey:tile situation as a whole in Continental Europe continued
unsatisfactory. during July and- the first half of August. Sales and
activity w;ore lo-. but some seasonal increase was reported.

Stocks in most countries are still prob:-bly, high though labor
troubles in France whichh restricted production probably decreased trench
stocks. Poland is another country ,here stocks are lower and due to
increased demand have increased their output. Hungary reports fairly
satisfactory conditions in regard to sales, mill activity and stocks on
hand. In other Luropean countries, however, conditions arc less favor-
able. Sales continue slov' and stocks arc larger in the face of restricted
mill activity and production.

Ge rmany

Unfuvor-Lble conditions still exist in the German cotton r.ills al-
though there was some seasonal pick up in activity during -uly which
probably continued tlroi;uh August. Spinnc.rs hawv been buying ri.' cotton
and fixing prices r-ther frcr;ly during r..ost of July and the second half
of August.

As mny be seen from the acconpanying Table activity in both the
spinning and wvcaving mills is low but the activity during :uly was above
the low fi-gure for July 1929. In relation to 1J28-29 the activity in the
spinning mills for the past season as a whole was good but .'was consider-
ably below.' the- s.-easons 1926-27 and 3127-28. The w',avinL mills, hoc'ovr,
have not on the avcragc- been is active this past scucon as in 1i28-29,
and were also consider bl.: loss .:ctive tha-n in oithcr 1926-27 or 1327-28.



1/
Based on cable from Agricultural Corr.issionor L. V. Stccro at Berlin,
dated August 27, 1930.


C-6b"






0-62 14 -



Table 9- Germany: Cotton spinning and weaving mill activity


"S
S Spinning mill activity -1/ : Weaving mill activity 2/
:1925-:1926- 1927-:1928-: 129.-:1930-:1925-:1926-:1927-:1928-:1929-:1930-


Aug. .
Sept..
Oct. .
Nov. a
Dec. .
Jan. .
Feb.
MIar .
Apr..
Miay .
June
July..


: *29 : 30


: Per
cent

: 101
a 101
:90
: 110
102
: 107
:102
99
: 105
S90
93
: 77


Per
cent

94 a
S95
104.
S106
: 109
S108
109
S105
: .07 .:
100
S86
S97


31 : 26 : 27 : 28 : 29 : 30 : 31
Per : Per : Per : Per : Per ; Per : Per
cent :cent :cent :cent :cent :cent :cent


J/96: 73.9:
: : 77.4;
.. 2.1:
S- : 84.7:
S- : 86.5:
S88.6: 87.4:
85.5: 8i.3:
S83.3: 91.2:
:78.7: 31.4:
S77.0: 93.5:
S73.3: 92.9:
71.7: 92.5:


92.8:
95.4:
93.4:
93.1:
93.3:
93.1:
92.6:
92.3:
91.1:
90.4:
88.7:
88.3:


85.9: 66.2: 3/69
86.3: 69.5:
87.2: 72.1;
85.3: 75.6:
85.6: 72.8:
71.3: 71,6:
71.5: 76.1:
70.6: 76.4:
70.8: 69.3:
61.0: 72*0:
64.3: 63.0:
61.7: 69.0:


Average 96 : 112 : 118


98 : 102 :


:J79.7:


86.9: 92.0:


75.1: 71.1:


German Institute for Economic Biesearch, Berlin.


I/


Revised figures (montilly avcera oc July 1924- June 1926 = 100)


2/ Up to December 1928, active loons in percentage of total looms in place;
since January 1929, activity in percentage of 9 hours shift capacity.
3/ Estimated: subject to revision.
4/ Average for 7 months.


Imports of cotton yarn and woven materials during: the past season are
both well below the three previous seasons. Imports of cotton yarns for'tho
season 1929-30 wore 19 per cent below the 1,-28-29 season and 52 per cent
below the 1927-28 season. Imports of woven cotton materials although up
during July over June arc still low, and for the 1929-30 season were 15 per
cent below the previous season and 17 per cent below the 1927-28 season.


26
: Per
:cent

108
: 110
: 117
: 116
: 119
:102
94
85
:76
69
74
70


S27
: Per
cent

S85
:99
S106
: 112
: 117
: 115
118
:122
1 120
S123
: 112
118


: 28
:Per
cent

: 119
: 126
: 122
: 125
:120
: 123
125b
: 121
: 116
: 113
:102
: 99


- -;I --r. --,;..ii



~-~---


.


*






C-62


Tablo 10- Gurmany: Impor ts of cotton ,,'ira :.nd: .&'v n mratori.ils


Cotton yarn


\/ovon cotton materials 2/


28 : 29 : 33 : 26 : 27 : 28 29 30
1,000: 1,000: 1,000: 1,000: 1,000: luuu: 1,000: l1,00
pounds: rounds: pounds:o pounds: pounds:nounds: pounds: pounds


14,240:
13,962:
13,514:
12,840:
12,879:
13,252:
11,409:
10,657:
lu,154:
8,823:
8,0y3:
7,502:


7,C46:
7,286:
7,842:
8,062:
6,676:
8,027:
6,3u3:
7,147:
6,327:
6,259:
5,271:
5,760:


6,583:
4,921:
5,210:
5,600:
5,410:
5,b66:
6,354:
6,111:
5,441:
5,225:
5,183:
4,844:


--:a




3,333:
2,846:
1,984:
1,351:
1,142:
1,142:
787:


767:
794:

990:
1,063:
1,594:
2,94*:
3,671:
3,995:
*,667:
1,,824:
4,69-:


4,277:
5,355:
5,610:
5,758:
5,373:
5,959:
4,363:
4,4C3:
3,530:
2,65C:
2,092:
2,255:
nr 3*rR
Cj *-' ^


1,455:
1,534:
2, 15:
1,728:
1,576:
2,097:
1,728:
1,757:
1,755:
1,499:
1,53-:
1,356:


1,164
1,254
1,484
1,551
1,358
1,371
1,530
1,66C
1,468
1,530
1,307
1,3.3


Total : :101,669:137,325:62,046:66,548: :31 422:51,635:20,04: 17,050
4vo '~,, 5 6552,04:7,5


Official Foreign Trade Statistics.
I/ No. -40 Ho. 444 of the German Duty
2/ No. 453a- No. 457d2.


Register.


Austria

The unsatisfactory conditions which have existed in the Austrian mills
during most of the 1ld2y-0 season a:re reported to have continued during July and
into August. Hc;; sales are scarce :nd exports of cotton yarn are very low
especially when compared with 1L,27 and lj28. Efforts are being mado in Austria
and Czechoslavkia to crect a Ccntral European price and term cartel which is
to include Germany and Hun6ary.

Exports of cotton yarn to Gurmany during 2uly were 9,00'S pounds above June
but vere considerably below July iJ2l9. Exports for the season lv2a-30 amounted
*to 916,000 pounds co.parud ;,ith 1,486,000 pounds in lI.26-29, 3,298,000 in
1927-28 and 4,149,000 pounds in 1l26-27. (Sjo Tablo on following pagc)


- 15 -


Month


Aug.
Sept.
Oct.
Nov.
Doc.
Jan.
Fob.
Bar.
Apr.
May
June
July


:1925- :
:26
: 1,000:
:pounds:


--S
--:
--:
--:S

5,772:
5,154:
4,899:
4,140:
3,554:
4,638:
3,986:


27
1,000:
pounds:

3,962:
4,500:
4,599:
5,657:
5,617:
6,931:
8,400:
10,384:
13,488:
12,509:
13,294:
15,326:


1926- :1927- :1928- :612J- :1925- :1D6- :J27- :1i28- :1920-







C-62 13 -


Table 11.- Austria: Exports of cotton yarn to Germany 1/


Lornth 192-26 1926-27 1927-28 1928-29 1929-30
... :1,000 pounds:1,000 pounds:1,000 pounds_1,0C pounds:1,000 poundss

U Z. ........ : : 19 : 551 : 201 73
Lcpt.. .......: : 165 : 317 : 176 : 37
Oct. ....... : 32 :. 24'5 W 157 : 29
ov. .......: : 148 240 : 134 :95
Lec. .*....... 159 1 : 223 2-14 66
J:r. .........:. 664 :243 :163 : 101 :84
Feb. ......: 4.4 : 476 : 260 88 :104
. ..... 331 558 .: 220 73 : 128
r. .,......: 331 : 694 203 : 106 121
ay .........: 243 : 624 : 340 : 84 :
June .....,.:, a03 : 456 : 243 : 40 : 53
July ........: 14 : 355 .: 293 : 112 : 62
Ttal ....,.: : 4149 : 3,298 : 1,486 : 916
Co_--piled fro;. official foreign traCe statistics.
1/ Five. re.ipesentative positions, i. e. sections 440 a-e of the German duty
register.

t..ctivity in the siiriii.ng .ills of .ustria during LA- -nd June was up
co...asred with the three months fro.. Vebruasry through-April, but reports
indicate t.at furtl-er rostrlcti,.nc .-ve taken .plce during : July and August.
Th'e av .j'ge activity ii per cent o'i ull capacity for the eleven months
ended Juno 30, 1930 wan, 76 co.,.pared with 79 for the 1928-29 season and
L1 for t',e 1927-28 s eson.

Table 12.- ..ustria: Cotton spinning 7-11 activity (Po.rcentage
of "fu11 ca;pcity") 1/

Ionrth :1922-23:5193--4:1924-25:192~-26:1926-27:1927-38:1928-29:1929-Z0


: cent
": cent


: cen
: cent
:*


: Prc
: cent


: P nt
: c nt
:*


Pcr
cent


: Per
* cDnt


:Per
: cent
*


: Per
: cent


u. .........: -- : 59 : 57 : 76
Cept. ........: 63 : 58 : 79
Oct. ........: 63 : 70 : 63
::ov. .........: 64 : 69 : 91
Lec. .........: 66 : 78 : 87
JUn. .........: 55 : 70 : 77 : 81
Feb. .........: 57 : 70 : 80 : L5
L.... .........: 9' 74 75 : 79
A;pr. .........: 72 : 75 : 75
a*y ..........; 58 : 67 : 70 : 67
June .........: 62 : 64 : 76 : 62 :
July .........: 5 6 : 7, : 72
-v"5ra7e ......;/ 67 : : 78:
Comnpiled fro:.. reports of tLo .ustxiaa Institute
/ "ull capacity" means about 1.15 per c-nt of
V/ Average of 7 months. 3/ ..verae of 11 mo:


76 : 81 : 79


I


iT


76


for ncono..ic research.
post-v.ar si:lle shift capacity:
nths.


---







- 17-


Czechoslovkin

Condition. :: t,,e tCx.il.: induAr,'; of C.sc.lrvat.i.. :o July nni Aug-
ust are 'o 'orted 6as 0oor with irlh ;e-trictti,. in ;..tivit~. E:.,t.-: _re lovr.
and nrw sales -i scar:c.

Lxports o. cotto.. ''n lor t fr.: t l.lovon i;.ontbs of t.Lu 1'. 2.-30
coason wore 6 >ur c.nt above t... si:-il'.:' ;oiod t., piuvioum ;.::, tut C por
cent bolo.. t:.c olcvve non.t, p,.:iod in 1?~J-2S. Cotton fabric x;ports for the
eleven months .'a 1:..-3C, how.uvr", !,;. r cut clo'.. t..u li;. period
a, 19-8-29. -.d 1C6 '._: cent b-low .17-:.5.

Table 13.- Czechoslova-ia: ..:.1ort of cotton y:.zn and cotton fabrics

: Cotton yrrn unbl..i'a.,d 17 : Gottoi _f brics f -11 kinds 27
mcnth:1925- :1926- 15- :1C- 12 :192- :19c7- :128- 2-
S 26 : 27 : 28: 2 : 30 : 26: 2828: : 30
:1,000 :1,000 :1,000 :1,000 :1,CGO :1,000 i:,CCO :1,000 :1,000- :1, 000
: _junds :; nds: ound s: ..nLs:2.nds :nonds:o.r.nds: -unds:7i un s: dcuids


i.-g. :
Sept.:
Oct.
vrOV.
Lec.
Jan.
Feb. :
i -r.
kpr.
I"-y
June :
July :


2,921:
2,619:
2,835:
3,4.10:
2,286:
2,041:
2,560;


3,058:
3,530:
3,576:
3,311:
3,Z624:
r ,8 0:

L 75C7


2, 8'4 3
C .O


5,573:
S,262:
4,6387:
4,79'7:
5,1,5;
4 ,00:
0,453:
,441:
,8C1:
3,7t1:
3 f'1:
3 A.-l


3,5690:
rz
1,231:
5,69: ,
3 8ID :
S'- *-..
4,105:
3,C09:

4, 37:
, C30:
4,C1:
3,312:


,8C5:
4,173:
4,462:
0L,62:
, 926 6
-,200:
-,683:
S,127:
4,70:
.17fl:
*-; rrA.


C,903: 2,105:
7,374:11, 087:


6, 4I:
6,812;
8,E ;2.:. 7
10..
C,C07.:
-.,453:
4,17':
tzl, 79 :


7, 71:

6 L,1:
6,382;
7,40:2
7 4--0:
8, 22:
7,?7-431:
0, -.7'
7,496:
C,5b2;


, 22-':




7,127.
8, 638:
C,047:
5,7,7:
5,240:
6 l :


7,476:
, 553
8 ,65:

7,Ll3
, 7'76
5, 82:
7,515:
7,829:
, 323'
C,173:
63 32 :


8,34,2
E, -47
8,763
6,997
7.-174
5,743
,851
6,537
5,724
5 754

5,580
4,067


:53,651: L ,103:47,831:


:25,709 : 1 ,662:85,51-:


Official Forei,n 2r-de :tatistios.
1/ I:o. 501 L04 of t..e CzecLoslov-ai-_n
/ l.c v-. r nr7 It 1? I


Dluty iC1iit..
1 11


Total:


__


C-62






C-62


- 18 -


<1


Hungary

The textile situation in Hungary continues to be fairly satisfactory.
Hill activity which has been very good during recent months in spite of the
depression in most countries is still high. Sales continue favorable
especially during Aukgust due to reduced prices. The Hungarian textile
industry, as has been previously pointed out, is on an import basis and is
well protected by tariff.

France

During the later ..-art of July ;;_.d mrst of .';aust textile activity in
France was under thie influec-.: of e:-te-nsivu labor stri-:es whi2h resulted
in lower mill activity 2nd replied production. :..ost of the labor trbubles
had been settled by the last of Auzi:st. These strikes which were the re-
sult of dissatisfaction in the healthh insurance sheames which were put
into operation Ju-.ly 1 have resulted in increased images, in some sections at
least, will be difficult to bear for some mills. As has oftm.n been point-
ed out in these reports, the French cotton- industry faces an important
problem in the retention of its skilled labor because of the relative short-
age of labor in France due to the reduction in the 4 you-'. workers which is
a result of the sharp drop in the birth rate during the war.


Sales of textiles were also low during most of July and August though
the lower prices and the exce "tional heat during the last of Auust re-
sulted in increased retail sales of cotton goods. The reduced production
due to the labor dispute has probably resulted in reduced stocks.

Italy

Reports on the Italian cotton industry indicate that the unsatis-
factory conditions which have existed since last spring conti-ned through
July and August. Production and sales were further reduced during these
two months and exports were reduced still m.ore. There is some hopq, however,
that textile exports to Russia will improve due to a recent treaty between
Italy and Russia. Stocks of cotton goods are above unfilled orders and
activity is below this time a year ago.

Poland

Consolidated efforts on the part of the textile industry of Poland
during recent months in restricting the output of yarn and cloth has re-
sulted in a decrease in the supply of yarn. Seasonal imrorove-..3nt has
taken place and the demand for yarn is good. T.'e syndicate has increased
prices and have also increased output in view of the better demands.

China

The textile situation in China during July and August continued about
the sane except that the political and military conditions in the interior
have somew'-at complicated the outlook, according to Agricultural Commissioner
Nyhus. Deliveries of yarn are quite fair considering these conditions.






- 19 -


The report for Se:tember states tu,:-t conditions nave im;, roved and demands
for yarn are picking up.

Japan

.Te Jr.pneso cotton in:iustry is :.ore o:,ti!di-tic as yarn prices .iave
risen about 25 per cent since Juneo anid .ar now stcSt, at a point w.-ic: will
allow mills some profit, according to Consul Dickov-.r at Kobe. July pro-
duction of yarn amounted to 70.8 million pounds, a decrease of 30 ;:cr cent
from the pealk of last December. Jul; cloth production also decreaLsed a.nd
was 29.per cent below the December peak:. M-.:c.l of this decrearld production
wap due to the restriction of output on account of shortage of cotton stocks.
Exports during July were fairly good and stocks of both yarn and cloth'
are decreasing. If this continues mn.-c.i longer there will likely be increas-
ed mill activity during the remainder of the year.- A later report indicates
a brighter outlook with continued curtailment and increased orders for cloth
from Chi- a and India.

India

The textile situation in Bomb.-. is very poor. A dispatch on September
3 stated that with the closin.. of six additional cotton mills in Bombay-, the
number of workers involved has risen to about 60,000. A total of twenty-
four mills were idle at that time.

Philippine Islands

General conditions i the Philippine textile market are still very
unsatisfactory from the standpoint of ii,.:orters of American tLxtilcs, accord-
ing to a cable received by the Department of Coir.i.rce dated Auguast 20 from
Trade Commissioner E. D. Hester, IMaonila. Chinese dealers continue to prefer
Japanese goods to Am.rican textiles owing to their ability to uiad:e some
profits from the former. Another cable from Commnissioner HEster dated Sep-
tember 16 reports t-at business conditions i-. the Philippine Islacds co:'tinucs
seriously depressed. Textile indent events however, claim that jpros ,-cts
in their line are better than for the past few months.

Production, acreage and crop condition re-orts

United States

Production estimate

According to t:". Crop Roportin,_ board the 1930 cotton crop for the
United Sta.tes is forecast at 14,340,000 bales, based on conditions as of
September 1. This is 22,000 bales less than were in prospect a Iront.i crrlier,
488,000 bales less th`n last year's cro- ca-d 658,D)0 blies less tl.... tie
average crop of tnE five ye.rs 1924 to 1928. Avers:e -ield is forecc.st at
153.2 pounds per acre, which is 1.9 pounds less th'.a the average for the "ast
ten years. Condition is reported as 53.2 per cent of normal, wilic.- is 2.2
per cent below last year on the same date. The preliminary estil : te of acreage
left for harvest is 44,791,000 acres, abandonment after July 1 this year


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C-62


- 20 -


being estimated at 2.2 per cent, compared wiith average abandonment for
the past ten years of 3.5 per cent.

Abandonment is less than avera,-e in all st-.tes except Arkansas Iand
California, in which States it is slightly more t-an the 10-year average.

During; the past month boll weevil activity ':as been generally held
in check by relatively hot, dry weatncr, and th s -resent prospect-is that
total loss from weevils will be less than- in ary year since all States in
the cotton belt proper have been infested vrith w2cvils, except 1925. In
that ,ear reported reductiodh from a fully yield doc to weevils was 4.1 pcr
cent. While there are a few wcevi'ls in nearly all sections of the belt
the onlyr St:.tes where th-ey are present in co.nside.racle rwn'abers are the
Carolinas.

The crop Generally is maturing and oi:oning quite rapidly, and there
are many complaints 6f unripe bolls opening prematurely because of the dry
weather; this is especially true in the central part of the belt where the
drouth -has been worst.

In interpreting yield per acre from the reported condition, the Board
in this report, as it 'has for several years past, considered not only the
general condition of the crop but also supplementary info nation on the
probable loss from weevil-s.

Ginninnis of the 1930 crop prior to Soetember 16

Counting round bales as half b.les a total of 3,729,683 bales have
been ginned from the 1930 crop prior to September 16 which'compares with
3,351,613 bales for the corresponding period last year and 2,500,781 bales
in 1928 according to a preliminary report of the Burcau of the Census.
Texas, South Carolina, -eorcgia and North Carolina were-the principal states
in which innings were above last year. Mississippi, Arkansas and Louisiana
were the three outstanding states in ./which ginnings- were below the correspond-
ing period a year ago. C-ininigs in Alabmna were 'practically the same in
these two years.

Indian cotton acreage and condition

According to a cable from the International Institute of Agriculture
the acreage planted to cotton prior to August 1 amounted to 14,875,000 -
acres which is 6 per cent below the area planted to the corresponding date
last year but .5 per cent above the previous 5-yecr average. The revised
estimate of total area planted to cotton in India last season was
25,692,000 acres. During the past fifteen years the estimated acreage
planted to August 1 has averaged aboit- 54 per cent of the final estimate
and the range has been from 47.5 per cent to 66.7 per cent of the final
estimate.

The condition of cotton in Punjab province, which represents on bn
average about 10 per cent of'the aerecgc of the total area in cotton in
India, was reported as average to good. in the irriZated rxea and about


------ I---- -- - 3 1





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average in t.e unirritc.l cIrea. CuttLn acrc-.L, i:L Fu-j.ib .i-s 'estji.atLd
at 2,510,000 1cres. At t.iis time last season t..:: csti-.rte.d -cr-:c i,-
. Punjab wcs es, 01,000 ace .. ;. final esti..:zte of the rc:oaje in --,j:.b
last season vws 2,436,000 acres.

Chosen (Korca) cotton acreo;ge

Accorai:n. to the International Institute of Agriculture the .ra
planted to cotton in Chosen for the 130-31 season .Jmnountud to 1463,000
acres. Tiis coe)res with the acroce of the -rovious season of 459,000
and 505,000 acres in 1928-29. The )ercentago of native cotton this year is
a little loss thu-n last year resulting in rn increase in the percentaj,
of Upland cotton plated.

i scllan:. o-s "',js

Cotton coocrativos

T.-. Federal Farn Board on A-aust 25 m.ad public the followin-i state-
mont is.-le.ie b.- E. F. Creeolaore, Vice President :d-l G.oral -.aber of the
Ameri-ci C.)tton Cooperative, Association: Realizing the deplorable
condition of the cotton fanrer in tl.e South because. of the present low
level of j.'ices PaId thrcu-iu the assistance of the Fed-'ral Farm 3oard, the
Cotton Sta'illz..tion Cori.:-ration has arranged today to advance to the
various St:..to Cotton Cooncrative Associations for the benefit of their
seasne.l -pool n-e:.bers a:proximv.tely 90 per cent of the value of the cotton
where located. On optional pool cotton the advance will be 10 per cent
less tha- on seasonal pool cotton. As the market adv_-ncos or declines the
advices ;Vill b- adjusted. It is believed th'..t on the present level of
prices tIe amount which can. now be advan-ced the southern farmers on deliver,
of their cotton will enable a majority of them to take advantage of the
cooperative r.iarketing and in that way receive the benefit of o~:; future
advances in price."

The Staple Cotton Association recently clno'-ucocd that it is *-r&pared
to advance an amount equal to 100 per cent of the value of short cotton,
the staple premiums constituting the necessary margin to the loan. If
value. of s-hort cotton does not equal as nric.h as 0 pe-r cent of the va~d':. of
staple cotton, tnh Association states that it will be r.rapared to bring
the advances up to 80 nor cent o' the current value.

-Th followin- statement was issued Septmber 23 by Mr. E. F. Crcelnore.
"Trh present holdings of the Cotton Stabilization Coorpor.tion, or.ounting to
about 1,30,0C30 b,.les will be ro.ilintained throughout the present cotton
season ending July 31, 1931 unless the price in the meantime advw;ices to
or above the purchase price. If an,, part of these holdings are sold in
order to ;m:at special requirerace:ts of mills or for other sufficient reasons
thle quatity thus sold will be replaced immediately by the purchase of an
equal number of bales so that th.; total holdings will remain -uchtonsed."

T:.- directors of the Arizona Farm BuIrau.. FFedration on August 29
submitted ,. pln for relieving the farmers. Their proposal was that the


- 21 -





- 22.-


farmers purchase their 1931 crop on the NTew York futures market, preferably
July contracts. All cotton received on these contracts would be sold and
handled through the Cooperatives or through the Stabilization Corporation.
(The Eaily 1Tews Record)

International cotton congress

Textile World. for August 23 says plans for the International Cotton
Congress to be held in Paris next year are well under way it was announced
by I. S. P-arce, General Secretary of the International Federation of
iMast-er Cotton Spinners' and M'anu'facturers' Association - - The date
has been definitely set for June 23 to 25, 1931, The program has not yet
been couileted. Paris designers are reported planning special models in
cotton to -be shown at the Congress."

Uew uses ::-r cotton

Soutf- Carolina watermelons were shi ped this season in cars lined with
cotton cheese cloth with such success as to indicate an important new use
for cotton, according to C. K. Everett of the Cotton Textile Institute. To
protecU the felonsns from friction the side walls and ends of t.e cars were
cushioned with straw, the latter beinj held in place with a covering of
cheese cloth. (Textile World August 16)

According zo an announcement made September 18 by the textile division
of the Department of Com.merce, the rapid rise of miniature golf has result-
ed in the use of approximately 1,500,000 yards of cotton textile fabrics on
the links throughout the country. (Daily News Record, September 19)

H. S. Jo-nson writing in The American City, New York says "there is
practical significance and experience now being made with cotton fabrics in
improving country roads. The result in South Carolina since 1927, and in
Texas since 1929, already have attracted notice in foreign countries as well
as in t;-e United States because of distinct changes in engineering technique.
It was fitting that experiment with this new use of cotton should be under-
taken first in the South where cotton is important not only as farm crop
but as a manufactured product". Results indicate, the article says, that
rural roads can be improved quickly, economically and satisfactorily by
such use of the cotton fabric membrane in connection with light tar and
asphalt oil.

Considerable interest has been shown for the use of cotton suits for
men. The Governors of the various cotton growing states have been asked
to assist in the spreading; of this new use for cotton. (Daily News Record)


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Cotton r-tcs revised


Ti.e Int.rstate Coimrcrc Co -mission lias issued a report
revisirng rates on cotton 'r..mr southern producing .oiints to desUina-
tions throughout the eountr.. R; tes within the Mizsissi;'pi Villoe
called for a rc-Io.ction of about 10 per cent. T10e reduction in
rates fro,.i noinrts in O,-laor.::a would amno- ut to about 7 to 15 per cent.
In tl.e Iississippi Valley it is Estilm~.;iL t,-It there will be a
slight reduction in the total ex endit bres of freight charges while
in th2e southwest reductions are cxpccted to ranje from $500,000 to
$1,000,OCO. T.ese icnw ra.ts are e.-'ective Jr.ua-ary 10, 1951.


--------------------
















CO :TErTS


Prices . . . . . . . . . .
Stocks and ovcinet . . . . . . . ..


Table 1 -


Table 2 -

Table 3 -

Table 4-

Table 5 -

Table 6 -

Table 7 -


S
.


World. visible sur,'ly of colton: -'j.iric.n
and otaicr ,,rowtns on Sc.t .ib*- r 26, 19;19 and.
130 . . . . . . . . . .
Cotton, all :-iiids: Stoc:ks at z-''ccified
locations nt the end of July . . .
Cott .n, Axirican: Stocks at s-;ccified
locations t the end of Jul . . .
Cotton, Indian: Stocks at specified
locations u.t the end of July . .
Cotton, Egyptian: Stocks at specified
locations at the end of July . .
Cotton, SuLidries: Stocks at specified
loca ions a-t the end of July, . . .
Cotton, by kinds: Sumw.iiari of world stocks at


7
.* 4 -11


. 4

S. 6

. I

. 8

S. 9


the end of July .............. 10
Table 8 Grade, staple length, and tenderability of
cotton arrivedd over in tiLe United States
July 31, 1929 and 1930 . . . .... 11
3. Textile situation ........ ... . . . .12-19
Table 9 Gernany: Cotton spiniLin, a-nd weaevinr. mill
activity . . ... . . 14
Table 10- Germany: Ima-orts of cotton yarn zand woven
materials . . . .. . . . . . 15
Table 11- Austria: E:xports of cotton yarn to German- . 16
Table 12- Austria: Cotton spinning mill activity
(Percentage of "full capacity'") . . . 16
Table 13- Czechoslo' vaida: Exports of cotton yarn and
cotton fabrics . . . . . . . 17
4. Production, acreage and crop condition reports . . . 19-21
5. Miscellaneous news . . . . . ... . . 21-23


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* .




UNIVERSITY OF FLORIDA

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D.EIOSTO '.
DEPOSITORY p.











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